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Smartwatches to drive wearables market in 2017

Smartwatches to drive wearables market in 2017

SmartwatchesNew Delhi : The demand for wearable technology is set to increase 16.7 per cent in 2017 and 310.4 million such devices will be sold globally, market research firm Gartner said on Thursday.

The wearable devices market would generate a revenue of $30.5 billion in 2017. Smartwatches would continue to drive the wearables market and would generate a revenue of $9.3 billion.

Apple would dominate the smartwatch market but its market share will decrease from approximately a third in 2016 to a quarter in 2021, the report said.

“Smartwatches are on pace to achieve the greatest revenue potential among all wearables through 2021, reaching $17.4 billion,” said Angela McIntyre, Research Director at Gartner, in a statement.

Revenue from smartwatches is bolstered by relatively stable average selling prices (ASPs) of Apple Watch.

Apple is expected to launch its new smartwatch in September that could enable direct cellular connectivity for interacting with its smart assistant Siri, texting and transferring sensor data when the phone or Wi-Fi is not present.

Other brands such as Asus, Huawei, LG, Samsung and Sony would sell only 15 per cent smartwatches in 2021.

—IANS

Indian IT spend to reach $72.3 bn in 2016: Gartner

Indian IT spend to reach $72.3 bn in 2016: Gartner

Aman Munglani, Research Director, Gartner

Aman Munglani, Research Director, Gartner

Mumbai:(IANS) India’s IT spending is expected to rise by 7.2 percent in 2016 to reach $72.3 billion, said leading market research player Gartner on Tuesday.

“India will continue to be the fastest growing IT market for the second year in succession and will continue growing to total $87.67 billion by the end of 2019,” said Aman Munglani, research director, Gartner in a statement.

India, currently the third largest IT market in Asia Pacific, will become the second largest by 2019 following China, he said.

Mobile phones, personal computers and tablets falling under the category of devices are expected to account for almost 33 percent of the overall IT spend in India, growing at 9.4 percent in 2016, Gartner said.

Gartner India’s research head Partha Iyengar said that in five years, one million new devices will come online every hour, and “these interconnections are creating billions of new relationships. These relationships are not driven solely by data, but algorithms”.

Highlighting the crucial nature of algorithms, Iyengar added, “Data is inherently dumb. It doesn’t actually do anything unless you know how to use it; how to act with it. Algorithms are where the real value lies. Algorithms define action. Dynamic algorithms are the core of new customer interactions.”

The next great leap in machine to machine evolution in the Internet of Things (IoT) will be powered by the algorithmic economy, said Gartner in the statement.

“Organizations will be valued, not just on their big data, but the algorithms that turn that data into actions, and ultimately impact customers,” it added.